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Opening Hell! European Banks Risk Explodes As Markets Shudder

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

Unlike Mr Rogers’ Neighborhood, Mr Draghi’s Neighborhood is not having a wonderful day.

American and European equity markets are getting slammed at opening bell.

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And American and European debt markets (in this case, the 10 year sovereign yields) are tanking. Noticeably, credit-challenged nations like the PIGS (Portugal, Italy, Greece, Spain) all saw 10+ basis point jumps in their 10 year sovereign yields. The UK saw dump of over 10 basis points.

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European banks are seeing a substantial rise in the credit default swap spreads.

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Crude oil is once again below $30 as the Baltic Dry Index continues to remain near the bottom of the economic sea.

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It is a sad day for Central Banks, particularly the ECB’s Mario Draghi. Here is the Fed’s Janet Yellen before she speaks to Congress.

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